Report
David Silver
EUR 101.80 For Business Accounts Only

Stratasys: Stronger 4Q Sales and Profit Balanced by Flat 2017 Sales Outlook. We Reduce FVE to $21

We reduced our fair value estimate for no-moat Stratasys to $21 from $22. The company reported improved fourth-quarter results but issued cautious 2017 guidance including flattish revenue. Our fair value estimate thus reflects an improving product mix, expense control, and cash flow balanced by continued weakness in the market for 3D printing products and services, including customer hesitancy due to looming new product launches from competitors including H-P and Carbon 3D.
Fourth-quarter adjust...
Underlying
Stratasys Ltd.

Provider
Morningstar
Morningstar

Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.

Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.

We have operations in 27 countries.

Analysts
David Silver

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